The Kudelski Group, which develops the Nagra conditional access system, has shared its first half results. Total revenue grew by 11.6% YoY, to CHF481.8 million ($502.5 million), while operating income was down 6.9% to CHF33.4 million ($34.8 million). Net income was up 115.2%, to CHF21 million ($21.9 million).
Revenue grew primarily in the Group’s non-European business, and was helped by the ‘robust performance’ of the integrated digital TV division (up 1.7%), despite poor conditions in South America and some countries in Europe.
For the full year, the Kudelski Group expects total revenues to exceed CHF1 billion ($1.04 billion), while operating income will be between CHF90 million ($93.9 million) and CHF100 million ($104.3 million).
